Resideo Technologies (NYSE:REZI) Stock Rating Lowered by JPMorgan Chase & Co.

Resideo Technologies (NYSE:REZI) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $16.00 price objective on the stock, down from their prior price objective of $31.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.69% from the stock’s previous close.

Resideo Technologies Stock Performance

NYSE REZI opened at $15.43 on Tuesday. The company has a market cap of $2.28 billion, a P/E ratio of 24.49 and a beta of 2.04. The business’s 50 day moving average price is $17.60 and its 200-day moving average price is $21.36. Resideo Technologies has a fifty-two week low of $14.18 and a fifty-two week high of $28.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sell-side analysts predict that Resideo Technologies will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On Resideo Technologies

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new stake in shares of Resideo Technologies in the 4th quarter worth $122,145,000. Boston Partners raised its holdings in Resideo Technologies by 25.1% in the fourth quarter. Boston Partners now owns 9,797,883 shares of the company’s stock worth $225,865,000 after purchasing an additional 1,966,706 shares in the last quarter. Norges Bank purchased a new stake in shares of Resideo Technologies during the fourth quarter valued at about $40,596,000. Federated Hermes Inc. bought a new stake in shares of Resideo Technologies in the 4th quarter valued at about $35,542,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Resideo Technologies by 32.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company’s stock valued at $53,496,000 after buying an additional 567,800 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

About Resideo Technologies

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.